Seven Six Capital Management LLC Takes $9.16 Million Position in Boyd Gaming Co. (NYSE:BYD)

Seven Six Capital Management LLC purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 126,300 shares of the company's stock, valued at approximately $9,162,000. Boyd Gaming makes up 8.0% of Seven Six Capital Management LLC's investment portfolio, making the stock its 2nd biggest position. Seven Six Capital Management LLC owned approximately 0.14% of Boyd Gaming as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. Norges Bank acquired a new position in Boyd Gaming in the fourth quarter valued at approximately $55,553,000. Raymond James Financial Inc. purchased a new position in Boyd Gaming in the fourth quarter worth approximately $43,273,000. Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after acquiring an additional 441,963 shares during the period. Finally, Franklin Resources Inc. increased its stake in Boyd Gaming by 37.2% during the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after acquiring an additional 261,443 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Price Performance

Shares of BYD stock traded up $0.45 during midday trading on Thursday, reaching $73.46. 248,561 shares of the company traded hands, compared to its average volume of 978,172. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The firm has a market cap of $5.98 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. The firm's 50 day simple moving average is $68.18 and its two-hundred day simple moving average is $71.85. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million during the quarter, compared to analysts' expectations of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share. On average, equities research analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, June 16th. Boyd Gaming's dividend payout ratio is presently 11.75%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BYD shares. JPMorgan Chase & Co. increased their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Truist Financial dropped their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Barclays dropped their price objective on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Macquarie restated a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $79.67.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.